Unfinished nuclear plant sold, buyer vows to get it running
BIRMINGHAM, Ala. — A development company that purchased an unfinished nuclear power plant from the Tennessee Valley Authority for $111 million on Monday said it plans to spend as much as $13 billion to make the nuclear generator operational.
Nuclear Development LLC — formed by Tennessee businessman Franklin L. Haney and based in Washington, D.C. — said it had been interested for years in finishing the Bellefonte Nuclear Plant in Hollywood, Alabama. It paid more than three times the minimum bid for the property.